Stocks finish higher...Automakers report declines...Tesla deliveries set
NEW YORK (AP) — Stocks have wrapped up a shortened day of pre-holiday trading with solid gains as banks and energy companies jump. Energy companies climbed as the price of oil rose for the eighth day in a row. Banks rose with bond yields and interest rates. The S&P 500 rose 52 points. The Dow jumped 129. The Nasdaq composite lost 30 points as technology companies continued to slump.
DETROIT (AP) — Ford, General Motors, Fiat Chrysler and Hyundai say U.S. sales dropped last month, apparently dragging the industry to its sixth straight month of declining numbers as auto sales slow from last year’s record pace. Ford says its sales declined 5.1 percent, while GM was off 4.7 percent. Fiat Chrysler sales were down 7.4 percent. Korean automaker Hyundai says its sales dropped 19.2 percent.
MINNEAPOLIS (AP) — A federal appeals court says a company that owns 10 Jimmy John’s sandwich shops in the Twin Cities was within its rights to fire six union workers who circulated posters critical of the company’s sick-leave policy. The appeals court in Minneapolis reversed a three-judge appeals panel, which had affirmed a National Labor Relations Board ruling in favor of the workers. The full appeals court concluded that the poster attack was “so disloyal” that it wasn’t protected by federal labor law.
NEW YORK (AP) — Tesla’s CEO says the first Tesla Model 3 electric car for the masses should come off the assembly line Friday, with the first deliveries in late July. CEO Elon Musk, in several Twitter messages early Monday, says the new car passed all government regulatory requirements for production to begin two weeks ahead of schedule. He says the company plans to hold a party to hand over the first 30 Model 3s to customers on July 28th.
ATLANTIC CITY, N.J. (AP) — New Jersey officials are looking for ways to ensure that Atlantic City’s casinos can remain open if the state government shutdown extends past Friday. A 2008 law passed after the state’s last government shutdown allowed casinos to stay running for up to seven days of a government shutdown. But with an impasse that began last week continuing today, lawmakers and regulators don’t want to force a shutdown just as the casinos are regaining momentum after a disastrous three-year period.